This article discusses the recent price action of Solana (SOL) and the potential for a mean reversion play. The trader highlights a 45% drop from all-time highs and bearish sentiment surrounding token unlocks and criticism. However, the article also mentions a potential rebound, with targets set between $190 and $210. The SOL/USDT pair on Binance shows a strong downward trend, but recently found support around $150. The chart suggests a curved bottom pattern and a possible move toward local resistance levels. SOL is currently trading around $173 and a break above $190 would confirm short-term bullish strength. Despite cautious sentiment, there is a possibility of a bounce. Further declines could occur if Solana fails to breach resistance, but a break above $200 would shift momentum toward the bulls. Technical indicators provide support and resistance points for traders. The next price action will determine if Solana gains upward momentum or faces renewed selling pressure.
Content Editor ( cryptonewsland.com )
- 2025-02-22
Solana Eyes Recovery After 45% Drop, Targets $190-$210
